Okla. Stat. tit. 36, § 36-1448
This is the official text of Okla. Stat. tit. 36, § 36-1448, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Administrator's bond - Amount - Requirements - Purpose -
Official statutory text
limits of cumulative liability - Cancellation.
A. Every administrator shall be bonded.
B. Prior to issuance of a license as an administrator, the
applicant shall file with the Insurance Commissioner and thereafter
keep in effect as long as the license remains in effect, a surety
bond in an amount sufficient to protect those with whom the
administrator deals, as determined by the Insurance Commissioner,
which amount shall not be less than Ten Thousand Dollars
($10,000.00), and in a form acceptable to the Insurance
Commissioner. The bond is intended to secure performance of the
administrator in conformity with the laws, rules and regulations
governing third-party administrators. The bond shall be for the
benefit of parties injured by the actions of the administrator.
C. In no event shall the cumulative liability of the Surety be
more than the penal sum of the bond. In no event shall the Surety
cancel the bond without first giving thirty (30) days' written
notice to the principal and the Insurance Commissioner.
A. Every administrator shall be bonded.
B. Prior to issuance of a license as an administrator, the
applicant shall file with the Insurance Commissioner and thereafter
keep in effect as long as the license remains in effect, a surety
bond in an amount sufficient to protect those with whom the
administrator deals, as determined by the Insurance Commissioner,
which amount shall not be less than Ten Thousand Dollars
($10,000.00), and in a form acceptable to the Insurance
Commissioner. The bond is intended to secure performance of the
administrator in conformity with the laws, rules and regulations
governing third-party administrators. The bond shall be for the
benefit of parties injured by the actions of the administrator.
C. In no event shall the cumulative liability of the Surety be
more than the penal sum of the bond. In no event shall the Surety
cancel the bond without first giving thirty (30) days' written
notice to the principal and the Insurance Commissioner.
Status: in_force · Read it on the official government site
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